Press release
Car Sharing Market to witness a massive CAGR of 34.8% over 2016-2024
Fractovia.Org
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Below is the in-depth analysis of the market based on business models, applications, and regions over 2016-2024:
• One way and round trip are the basic two business models prevalent in the industry. One way car sharing industry is witnessing a huge adoption owing to its operational advantages and customer flexibility. Moreover, round trip car sharing market will also observe substantial growth trends in the coming years, attributed to the benefits associated with this business model such as less carbon dioxide emissions and cost effectiveness.
• Car sharing industry share from business applications is anticipated to experience a significant upswing over the coming time frame. Increasing on-demand mobility among corporates is influencing its large-scale implementation in the global business space. Vehicle parking space which is a major problem faced by several leading corporate firms, can also be addressed by the incorporation of car sharing services in the business world. Corporate applications which held a major portion of industry share is past years, is forecast to continue its prominence in the application landscape. Driven by on time availability and dependability, car sharing market from private application will also grow substantially in the years ahead.
• The growth trajectory of China market is tremendous. As per estimates, China car sharing market is slated to grow staggeringly at an annual rate of 40% over 2016-2024. Presence of a large number of established market players such as Park24 and Orix Auto, as well as startups is catering the industry growth in this region. Furthermore, numerous automotive manufacturers and vendors are investing in Chinese companies, which in a way is influencing the regional market dynamics. U.S. dominated the global car sharing industry in 2015, owing to the rapid regional technological advancements.
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Improper transportation infrastructure especially in emerging economies, including China, Turkey, Mexico is posing a great threat to car sharing market. However, the increasing popularity of the car sharing services among younger population to avoid traffic hassles will provide a lucrative roadmap for the industry over the years ahead. Some of the prominent players in car sharing industry include DriveNow, AutoLiv, Zip Car, Car2go, and Uber.
Browse key industry insights spread across 130 pages with 52 market data tables & 13 figures & charts from this report Car Sharing Market in detail along with the table of contents at:
https://www.fractovia.org/news/industry-research-report/carsharing-market
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